Assenagon Asset Management S.A. Reduces Stake in STERIS plc (NYSE:STE)

Assenagon Asset Management S.A. lowered its position in shares of STERIS plc (NYSE:STE - Free Report) by 96.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,030 shares of the medical equipment provider's stock after selling 145,933 shares during the quarter. Assenagon Asset Management S.A.'s holdings in STERIS were worth $1,367,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Avalon Trust Co bought a new stake in STERIS in the 4th quarter valued at $30,000. Human Investing LLC bought a new position in shares of STERIS in the fourth quarter valued at about $31,000. Anfield Capital Management LLC lifted its stake in shares of STERIS by 100.0% during the 4th quarter. Anfield Capital Management LLC now owns 182 shares of the medical equipment provider's stock worth $37,000 after buying an additional 91 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of STERIS by 66.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 220 shares of the medical equipment provider's stock worth $45,000 after buying an additional 88 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in STERIS by 70.1% in the 1st quarter. Versant Capital Management Inc now owns 262 shares of the medical equipment provider's stock valued at $59,000 after buying an additional 108 shares during the last quarter. 94.69% of the stock is owned by institutional investors.

Insider Activity at STERIS

In other news, CEO Daniel A. Carestio sold 17,626 shares of STERIS stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $242.56, for a total value of $4,275,362.56. Following the completion of the transaction, the chief executive officer now directly owns 51,385 shares in the company, valued at approximately $12,463,945.60. The trade was a 25.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Cary L. Majors sold 12,828 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $250.08, for a total transaction of $3,208,026.24. Following the transaction, the senior vice president now directly owns 11,372 shares of the company's stock, valued at approximately $2,843,909.76. This represents a 53.01% decrease in their position. The disclosure for this sale can be found here. 1.07% of the stock is owned by company insiders.

STERIS Price Performance

Shares of NYSE STE traded down $0.93 during trading hours on Wednesday, hitting $236.15. 540,879 shares of the stock were exchanged, compared to its average volume of 548,012. STERIS plc has a 1-year low of $200.98 and a 1-year high of $252.79. The company has a market cap of $23.23 billion, a PE ratio of 38.09 and a beta of 0.94. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.39 and a current ratio of 1.96. The company's fifty day simple moving average is $233.70 and its two-hundred day simple moving average is $223.01.

STERIS (NYSE:STE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The medical equipment provider reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.59 by $0.15. The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.47 billion. STERIS had a net margin of 11.26% and a return on equity of 14.21%. STERIS's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.58 earnings per share. On average, sell-side analysts predict that STERIS plc will post 9.08 EPS for the current year.

STERIS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Tuesday, June 10th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Tuesday, June 10th. STERIS's dividend payout ratio (DPR) is currently 36.77%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Stephens reaffirmed an "overweight" rating and issued a $250.00 target price on shares of STERIS in a research report on Thursday, May 15th. JMP Securities increased their price objective on STERIS from $265.00 to $280.00 and gave the stock a "market outperform" rating in a research report on Friday, May 16th. Morgan Stanley lifted their target price on STERIS from $240.00 to $260.00 and gave the stock an "equal weight" rating in a report on Monday, May 19th. Wall Street Zen upgraded shares of STERIS from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, Jefferies Financial Group initiated coverage on shares of STERIS in a research note on Thursday, May 29th. They issued a "hold" rating and a $263.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $263.83.

About STERIS

STERIS plc provides infection prevention products and services worldwide. It operates through four segments: Healthcare, Applied Sterilization Technologies, Life Sciences, and Dental. The Healthcare segment offers cleaning chemistries and sterility assurance products; automated endoscope reprocessing system and tracking products; endoscopy accessories, washers, sterilizers, and other pieces of capital equipment for the operation of a sterile processing department; and equipment used directly in the operating room, including surgical tables, lights, and connectivity solutions, as well as equipment management services.